Frank Rimerman Advisors LLC Has $865,000 Stake in Itau Unibanco Holding S.A. $ITUB

Frank Rimerman Advisors LLC grew its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 133.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 117,838 shares of the bank’s stock after buying an additional 67,342 shares during the period. Frank Rimerman Advisors LLC’s holdings in Itau Unibanco were worth $865,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ITUB. Farther Finance Advisors LLC raised its holdings in Itau Unibanco by 3,590.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock valued at $29,000 after acquiring an additional 4,201 shares in the last quarter. MAI Capital Management acquired a new position in shares of Itau Unibanco in the second quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its position in Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after purchasing an additional 5,355 shares during the period. First Horizon Corp acquired a new stake in Itau Unibanco during the third quarter worth $60,000. Finally, GAMMA Investing LLC boosted its stake in Itau Unibanco by 114.8% during the second quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock worth $66,000 after buying an additional 5,167 shares in the last quarter.

Itau Unibanco Stock Down 3.7%

NYSE ITUB opened at $8.60 on Friday. The stock’s 50 day simple moving average is $7.47 and its 200 day simple moving average is $7.04. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58. Itau Unibanco Holding S.A. has a one year low of $4.73 and a one year high of $9.10. The firm has a market cap of $95.27 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.05 and a beta of 0.65.

Itau Unibanco Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, December 2nd will be given a $0.0032 dividend. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, December 2nd. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.29%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ITUB. JPMorgan Chase & Co. raised their price objective on shares of Itau Unibanco from $6.80 to $7.77 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.77.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.